Clearmatic has Increased Funding to UBS Improving Potential in Blockchain

UBS Group AG partner Clearmatics continues raising its funds while UBS is working with blockchain.
Clearmatics Technologies Ltd. that deals with UBS Group AG on a blockchain-based digital coin to renovate the global payment system completed its first round of funding.
UBS employed Clearmatics in September to help develop a digital coin based on blockchain to settle trades and make cross-border payments.
According to Mr. Sams, Clearmatics, founded in February, has shown the concept to other companies and it has been well-received.
Oliver Bussmann, the Zurich-based bank’s chief technology officer, admitted that UBS has identified 20 to 25 potential uses for blockchain.